Abasca Resources appoints Shmyr as VP, engagement

Executive Summary

• Abasca Resources Inc. closed a $3.0 million non-brokered flow-through private placement and appointed John Shmyr as Vice President, Engagement and Communications.
• The financing involved the issuance of 12 million flow-through common shares at $0.25 per share, with substantial participation from company insiders and related parties.
• Proceeds will fund exploration and development at the Loki flake graphite deposit, including the preparation of a preliminary economic assessment (PEA) and ongoing winter drilling at the Key Lake South project.

Key Details

• Financing Structure & Terms: Non-brokered flow-through private placement closed; 12 million flow-through common shares issued at $0.25 per share.
• Gross Proceeds: $3.0 million.
• Insider & Related Party Subscriptions:
• Dave Billard: 80,000 FT shares
• Brett Kagetsu: 100,000 FT shares
• Brian McEwan: 100,000 FT shares
• Dawn Zhou (CEO/President): 630,000 FT shares
• SaskCo (Zhou-owned): 2.2 million FT shares
• CSIT Consulting Inc. (Zhou-owned): 1.4 million FT shares
• 9169601 Canada Inc. (Zhou-owned): 3.6 million FT shares
• Canada DBD Management Inc. (Zhou-owned): 1.8 million FT shares
• Regulatory Context: All insider subscriptions constitute related party transactions under MI 61-101; exempt from formal valuation and minority approval requirements due to TSX-V listing, share value thresholds, and independent director approval.
• Use of Proceeds: Finance continuing exploration and development at the 100%-owned Loki deposit; prepare upcoming preliminary economic assessment (PEA); continue winter drilling program at Key Lake South (KLS) project.
• Management Appointment: John Shmyr appointed VP, Engagement and Communications; brings 14+ years experience in mineral exploration, permitting, and stakeholder engagement in Saskatchewan VMS and graphite regions; will lead community engagement, environmental permitting, and communications for Loki deposit development.
• Project Metrics: Loki flake graphite deposit holds an inferred resource of 11.31 Mt at 7.65% Cg. The KLS project comprises 23,977 hectares in the Athabasca basin, Northern Saskatchewan, with geological similarities to the former Key Lake mine.

Notable Quotes

• "We are delighted to have John join Abasca at this critical juncture. His deep expertise in managing the intersection of technical exploration and community engagement in Northern Saskatchewan will be invaluable. As we transition from mineral discovery to mine development, ensuring strong relationships with local stakeholders, and maintaining best practices and compliance of environmental stewardship are top priorities," stated Dawn Zhou, president and chief executive officer.